The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“NOMINATIONS” mentioning the Federal Reserve System was published in the Senate section on pages S446 on Jan. 23, 2018.
The Federal Reserve is the US's central bank, expanding many times during great financial uncertainty and panic. It has faced numerous criticisms since its creation in 1913, such as making the Great Depression worse and for lacking transparency and audits.
The publication is reproduced in full below:
NOMINATIONS
Mr. McCONNELL. Mr. President, on another matter, we have a long list of legislative priorities to tackle in the coming weeks, but legislation is not the only bipartisan business that the Senate needs to handle. Yesterday afternoon I filed cloture on three nominees to fill important positions in the administration: Alex Azar, to serve as Secretary of Health and Human Services; Sam Brownback, to serve as Ambassador at Large for International Religious Freedom; and Jerome Powell, to serve as Chairman of the Federal Reserve.
Today the Senate is considering the nomination of Mr. Powell, who brings with him degrees from Princeton and Georgetown and a record of high achievement in both the public and private sectors. Since his nomination to the Board of Governors of the Federal Reserve System in 2011, which received strong, bipartisan support, he has served as a steady voice and a thoughtful leader. I very much look forward to supporting his confirmation as Chairman.
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